Singapore targets online gambling, mulls regulation

    Published in: Latest IntelligenceWhen Singapore Second Minister for Home Affairs S. Iswaran recently announced that the government is studying measures to regulate online gambling, it marked the first real possibility of bringing legal clarity to a booming, but still grey area of activity. The U.K.-based Global Betting and Gaming Consultants estimates that internet gambling in Singapore will grow from US$342 million in 2012 to US$519 million by 2017. Despite the strong growth, current gambling laws in the country make no specific mention of the online sphere.With concern mounting that online gambling may create social problems in the city-state, legislation looks set to become a priority for the government.  Nothing is imminent though, as the government is conducting a study on the issue, which is expected by year-end.The current legal ambiguity hasn’t stopped the proliferation of online gambling sites, which accept deposits from Singapore-based players and have a wide range of...

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